 "The stock has provided a breakout from a falling channel on the daily chart")
BUY NIFTY | TARGET: 11,550 | STOP LOSS: 11,320
As expected the Nifty index reached our short term targets of 11,550 levels on Monday. Earlier, it negated the formation of a lower top and lower bottom formation on the daily chart and also reclaimed its 21-DMA which is providing immediate support. The momentum indicators and oscillators on the weekly scale are very well on buy mode. Hence, one can re-initiate the long position with a stop loss of 11,320 levels for a pullback towards 11550 levels.
BUY SIEMENS | TARGET: Rs 1,300 | STOP LOSS: Rs 1,200
The counter is making a higher
